Why Extra Coverage Matters
If you’ve ever looked at your wedding ring, grandmother’s necklace, or a high-end laptop and wondered if it is fully covered under your insurance, you are not alone. Many homeowners assume standard policies protect everything, only to discover limits on valuable items.
Sterling Insurance Group works with families across Plano, McKinney, Allen, Prosper, Celina, and Richardson to identify coverage gaps and provide solutions.
What a Standard Homeowners Policy Covers
Personal property coverage generally pays for belongings damaged or stolen after events such as:
- Fire
- Theft
- Storm damage
- Vandalism
This typically includes clothing, furniture, electronics, and jewelry—but coverage limits may be low.
The Catch: Sub-Limits on Valuables
Many carriers cap payouts for certain items:
- Jewelry: $1,500–$2,500 total
- Firearms: $2,500–$3,000
- Silverware: $2,500
- Artwork or collectibles: $1,000–$2,500
- Electronics: $2,500
A $12,000 diamond ring may only be reimbursed for $1,500 without additional coverage. Scheduled personal property coverage addresses this gap.
What Is Scheduled Personal Property Coverage?
Scheduled coverage is a rider or “floater” added to your homeowners or renters policy. Each high-value item is listed individually with its appraised value.
Benefits:
- Full coverage for each listed item
- Protection for accidental loss, not just theft or fire
- Often no deductible applies
Examples:
- Diamond earrings slip down the sink: covered
- Prized guitar damaged during a move: covered
- Wedding ring lost while swimming at Lake Lewisville: covered
What Items Should Be Scheduled?
Any item that would be financially or emotionally painful to replace:
- Engagement and wedding rings
- Watches
- Antiques and family heirlooms
- Designer handbags
- Musical instruments
- Fine art or collectibles
- Firearms
- High-end electronics or drones
- Coin or stamp collections
How the Process Works
- Appraise or document the item (recent appraisals within 3–5 years are ideal).
- Provide documentation to your agent to add the item as a rider.
- Review annually to ensure coverage reflects current values.
Local Example
A client in Plano had a $10,000 wedding ring and a $3,500 cello. Sterling Insurance scheduled both items. When the ring was stolen, she received the full appraised amount without paying a deductible, replacing it within two weeks.
Renters in the Dallas Suburbs
Renters insurance often has even lower sub-limits. If you rent in Richardson, McKinney, or nearby, you may want to:
- Increase policy limits
- Add a personal articles floater
Sterling Insurance helps renters protect valuables efficiently without overspending.
Cost of Extra Coverage
Riders are surprisingly affordable: $1–$2 per $100 of the item’s value annually. A $6,000 ring could cost as little as $60 per year.
What Isn’t Covered
Scheduled items still have exclusions:
- Wear and tear
- Manufacturer defects
- Intentional damage
- War or nuclear hazard
Sterling Insurance reviews these exclusions carefully to avoid surprises.
Why Work With Sterling Insurance Group
As a local, independent agency, Sterling Insurance offers:
- Knowledge of Texas risks like storms, theft, and fire
- Access to multiple top-rated carriers
- Personal guidance, not cookie-cutter solutions
- Hands-on support if you need to file a claim
Final Thoughts
If losing an item would hurt financially or emotionally, it deserves more than bare-minimum coverage. Scheduled personal property coverage ensures your valuables are fully protected.
Contact Sterling Insurance Group
📍 Serving Plano, McKinney, Allen, Prosper, Celina, and Richardson
📞 Phone: (972) 964-4825
📧 Email: info@sterlinginsnow.com
🌐 Website: www.sterlinginsnow.com